The goal with Chelsea Landmark was to set a new standard for luxury in a rental building. Despite building during a construction boom, we managed costs while giving residents the high-end finishes and amenities typically seen only in condominiums. We achieved lease-up in less than 12 months with the highest rent roll in Manhattan.
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In 2008/2009 condo sales activity froze across the nation, but at Oro we solved the problem with innovative marketing. We successfully repositioned the property and executed a strategic plan that transformed Oro into the top-selling condominium in Brooklyn.
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The Capitol at Chelsea is emblematic of Rose’s soup-to-nuts integrated services. Appointed as asset manager, we are responsible for leasing and management of the residential, retail and office space, and recently began renovating and upgrading the apartments. Creating a lifestyle brand was the key to success.
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At The Helena, we delivered Durst’s vision for the greenest residential property in the city, achieving LEED Gold certification. We developed exceptional amenities to overcome limited access to restaurants and transportation, and proved that going green doesn’t mean sacrificing luxury.
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After developing and owning The Sheffield as a rental for almost 30 years, we sold it as a condo conversion. But recession hit, and the new owner halted work on the property. We returned with an investment partner, balanced the operating budget and resolved tenant and legal issues stemming from the stalled construction. We amended the offering plan, completed the conversion and successfully rebuilt The Sheffield brand.
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When the financial crisis struck the U.S., scarce financing drove potential buyers back to the rental market. At William Beaver House, investors seeking an income stream purchased 209 unsold units to offer as rentals, and brought us in as their asset manager. We repositioned the property to capture the new rental demand by marketing a high-end condo lifestyle now available for lease—and maintained its prestige as a luxury condo property.
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